Automotive And Aerospace Sectors Fuel Expansion Of Composites Market: Transformative Forces Shaping the Composites Market Landscape in 2025

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What Will the Composites Industry Market Size Be by 2025?
The dimension of the composites market has significantly expanded in the past few years. The market, valued at $105.74 billion in 2024, is expected to reach $114.49 billion in 2025, showcasing a compound annual growth rate (CAGR) of 8.3%. The factors contributing to this growth during the historic period include increasing recognition of the environmental advantages of using composites, heightened demand for fuel-efficient automobiles, surging requirement for composites in the construction sector, expansion in the wind energy sector, and the use of composites for corrosion resistance in the chemical industry.

What's the Long-Term Growth Forecast for the Composites Market Size Through 2029?
The size of the composites market is anticipated to see robust expansion in the upcoming years, escalating to $164.05 billion by 2029, with a compound annual growth rate (CAGR) of 9.4%. This predicted growth during the forecast period can be tied to several factors including the development of electric vehicles, revitalisation of infrastructure, amplified usage in the marine sector, advances in space exploration, and a rise in demand for composites within the defense industry. Key trends projected for the forecast period encompass bio-based composites, intelligent composites, recycling initiatives for a circular economy, digital twinning technology, and hybrid composites.

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What Are the Key Growth Drivers Fueling the Composites Market Expansion?
The composites market is expected to grow due to expansion in the automotive and aerospace sectors. Composites, known for enhancing performance, providing resistance to corrosion, and aiding in fuel conservation, are extensively used in these industries. An indication of this growth can be seen in the Aerospace Industries Association's (AIA) report of November 2022. The AIA, a trade association based in the US dealing with the production and distribution of civil, military, and business aircraft, helicopters, unmanned aerial vehicles (UAVs), space systems, and aircraft, stated that there was a rise of 11.2% in A&D industry exports, reaching a $100.4 billion valuation in 2022. Adding to this, the Indian Brand Equity Foundation (IBEF) reported that Indian automobile exports escalated to 1,419,430 units from April 2021 to June 2021, compared to 436,500 units in the corresponding period the previous year. This surge is indicative of the impact of growth in the automotive and aerospace sectors on the composites market.

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What Long-Term Trends Will Define the Future of the Composites Market?
Top firms in the composites market are prioritizing technological breakthroughs, emphasizing on the creation of low-weight, high-strength composite materials that would find uses in aerospace, automotive, and renewable energy sectors. One such pioneering composite is the HexForce 1K woven reinforcement material, renowned for its augmented strength and durability, making it ideal for several industrial uses, predominantly in the automotive and aerospace industries. In line with this, Hexcel Corporation, an American producer of reinforcement items, composite materials, and engineered products, announced the release of their latest HexForce 1K woven reinforcement fabric in September 2024. This fabric features Hexcel's unique HexTow AS4C 1K carbon fiber, making the manufacture of lightweight, high-strength composite materials possible. The fabric perfectly suits various applications in industries such as golf shafts, hockey sticks, and automotive components.

How Is the Composites Market Segmented?
The composites market covered in this report is segmented -

1) By Product: Carbon Fiber, Glass Fiber
2) By Manufacturing Process: Layup Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding Process, Other Processes
3) By Resin Type: Thermoset Composites, Thermoplastic Composites
4) By End-Use Industry: Aerospace and defense, Wind Energy, Automotive and Transportation, Construction & Infrastructure, Marine, Pipe and Tank, Electrical and Electronics, Other End-Users

Subsegments:
1) By Carbon Fiber: Prepreg Carbon Fiber, Continuous Carbon Fiber, Short Carbon Fiber
2) By Glass Fiber: E-Glass Fiber, S-Glass Fiber, C-Glass Fiber

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Which Companies Are Leading the Charge in Composites Market Innovation?
Major companies operating in the composites market include General Electric Company, Rolls-Royce plc, SGL Carbon Graphite Technic Co. Ltd., Axiom Materials Inc., Minnesota Mining and Manufacturing Company, COI Ceramics Inc., CoorsTek Inc., Applied Thin Films Inc., Ultramet Technologies Limited, CFC Carbon Co. Ltd., UBE Industries Ltd., Kyocera Corporation, Speciality Materials Inc., Safran SA, Mitsubishi Rayon Carbon Fiber & Composites Inc., Johns Manville International Inc., Asahi Fibreglass Company, Owens Corning Fiberglass Company, China Fibreglass Company, Teijin Limited, Taishan Fibreglass SA, Kurarey Co. Ltd., Formosa Plastic Corp., Toray Industries Inc., DuPont de Nemours Inc., Nippon Sheet Glass Co. Ltd., Korea Nylon Inc., KCC Corporation, SAERTEX Wagener GmbH & Co. KG, Taiwan Glass Industry Corporation, Solvay SA, BASF SE, Huntsman Corporation LLC, TPI Composites Inc., Gurit Holding AG

Which Regions Are Leading the Global Composites Market in Revenue?
Asia-Pacific was the largest region in the composites market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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